Citizens Financial Group (CFG) will raise its quarterly dividend by another 12.5 percent to $0.36 per share in the third quarter of 2019. This is the second dividend hike this year for a total increase of 33.3 percent.

The dividend is payable on August 14, 2019 to shareholders of record at the close of business on July 31, 2019. The new annual rate of $1.44 per share yields 3.9% at a stock price of $36.83.

Citizens Financial Group, Inc. operates as the bank holding company for Citizens Bank, N.A. and Citizens Bank of Pennsylvania. Headquartered in Providence, Rhode Island, Citizens offers retail and commercial banking products and services to individuals, small businesses, middle-market companies, large corporations and institutions. Citizens has branches in 11 states in the New England, Mid-Atlantic and Midwest regions. Consumer Banking products and services include a full range of banking, lending, savings, wealth management and small business offerings. In Commercial Banking, Citizens offers corporate, institutional and not-for-profit clients a full range of wholesale banking products and services, including lending and deposits, capital markets, treasury services, foreign exchange and interest rate products, and asset finance.